Cary Street Partners Investment Advisory LLC Sells 83,580 Shares of Halliburton (NYSE:HAL)

Cary Street Partners Investment Advisory LLC reduced its position in Halliburton (NYSE:HAL) by 83.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,460 shares of the oilfield services company’s stock after selling 83,580 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Halliburton were worth $595,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Nvwm LLC boosted its holdings in shares of Halliburton by 1.2% in the 3rd quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock valued at $922,000 after buying an additional 259 shares in the last quarter. Stratos Wealth Advisors LLC boosted its holdings in shares of Halliburton by 3.6% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock valued at $308,000 after buying an additional 263 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of Halliburton by 2.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 11,972 shares of the oilfield services company’s stock valued at $485,000 after buying an additional 268 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Halliburton by 2.6% in the 3rd quarter. Avantax Advisory Services Inc. now owns 10,875 shares of the oilfield services company’s stock valued at $440,000 after buying an additional 280 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in Halliburton by 4.0% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,439 shares of the oilfield services company’s stock worth $301,000 after purchasing an additional 289 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the transaction, the director now owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total value of $13,308,100.00. Following the sale, the chief executive officer now owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the completion of the sale, the director now directly owns 9,625 shares in the company, valued at approximately $339,762.50. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on HAL. Raymond James lowered their target price on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Morgan Stanley lifted their target price on shares of Halliburton from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group lifted their target price on shares of Halliburton from $46.00 to $48.00 in a research note on Tuesday, April 23rd. Benchmark reiterated a “buy” rating and issued a $45.00 target price on shares of Halliburton in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Halliburton in a research note on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.65.

Halliburton Price Performance

Shares of NYSE HAL opened at $37.48 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.52. The firm’s 50 day simple moving average is $38.00 and its 200-day simple moving average is $37.28. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The stock has a market capitalization of $33.18 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 0.99 and a beta of 2.00.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. Analysts expect that Halliburton will post 3.4 EPS for the current year.

Halliburton Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.